§412:10-600 Regular reserve. (a) At the end of each accounting period and before the payment of any dividend, each credit union shall set aside from its gross earnings the following reserve against contingencies: (1) A credit union in operation for less than four years or having assets of less than $500,000 shall set aside ten […]
§412:10-601 Special reserves. The board of directors may establish, or [the] commissioner may require any credit union on an individual basis to establish, and transfer funds into one or more special reserve accounts when in the board’s or the commissioner’s judgment such action is necessary to protect the interests of the credit union’s members, including […]
§412:10-602 Risk assets. The commissioner shall define by rule what is deemed “risk assets” for the purpose of establishing the regular reserve. [L 1993, c 350, pt of §1]
